Summary by Moomoo AI
Jeffs' Brands Ltd reported strong revenue growth of 36.77% to $13.7 million for fiscal year 2024, up from $10.0 million in 2023. The increase was primarily driven by rapid growth in Fort's sales in the UK and expansion into European markets, particularly France, which offset declines in Smart Repair Pro's revenue. Gross profit increased 60.75% to $1.57 million.The company continued its strategic expansion with several key developments, including the acquisition of Pure Logistics in March 2025, providing a 100,000 square foot logistics center in New Jersey. Fort launched sales on Amazon in France and Germany in February 2024, while the company entered into agreements for potential strategic transactions involving Smart Repair Pro and Fort to maximize shareholder value.Operating loss increased to $6.2 million from $5.1 million in 2023, while net loss widened to $7.8 million from $4.6 million, primarily due to higher operating expenses and financial costs. The company strengthened its financial position through a $7.3 million private placement in January 2024 and a $2.85 million convertible note issuance in January 2025, providing capital for continued growth initiatives.
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